Wednesday, August 11, 2010

The above are Americans outside of Atlanta, Georgia in line to get on a WAITING LIST for low income housing. These are people who were working, laid off, and now losing everything. 13,000 people showed up in 90 degree plus heat just to have their names put on a waiting list, what does that tell you?

This is desperation on the 1930's scale.

No one believes that the economy is recovering and as folks are being kicked off unemployment, what will happen to them? Are we becoming the country of "if it is not me, I don't give a damn?" Because it sure looks like that to me. A tier 5 unemployment plan must pass congress or we will start seeing babies, mothers, children, fathers in the streets due to desperation, if they are not there now.

A Tier 5 unemployment extension could benefit US financial markets. After the stock market closed today down 265 many are investors are wondering what it will take to get the US financial markets robust again. With consumer spending at an all-time low and nearly 14 million Americans without work some help is in order if we are going to see the economy thrive again.

While we can argue and parse over whatever happens on a daily basis, this election, as I have said for over a year is about this economy. And baby, this economy is shitty and scummy for millions out here. When folks don't have jobs the wheels of motion stops for everyone in the economic chain. This is from purchase power, home values, health care access, food on your table, the whole nine yard.

November is a hard sell to an electorate who is angry at BOTH PARTIES. It is not about the Republicans because the electorate get them, they are not about shit, basically, but it is about what the Democrats have done which many don't get.

Lastly, the die hard Democrats will vote, including practically everyone on this site. The problem is getting all those other voters, soft voters, independents who pushed us over the finish line to stay in our corner and from all the polling we have a lot of work to do. They are highly skeptical, angry, and feel that nothing is getting done. They pushed us over the finish line in 2008 and gave us a massive mandate and numbers in congress.

Now it is time to pitch to these people to come out. Make them feel that we are in their corner, even for the unemployed worker, let them know that if the Republicans get in charge they can kiss their unemployment good-bye. We have to say this and mean it. They must because this election will probably be tighter than a tick, every vote matters and count. For every one person that says they are not voting or will "maybe" vote, that is two votes WE must make up. Remember that.

Update [2010-8-11 21:45:59 by icebergslim]:

I felt this is important for this discussion. Americans have always thought ownership of a home is money, equity for the future. As the housing market has obliterated itself, many Americans are just walking away from their debt, responsibility. Remember, walking away from loans, debts is a sign of desperation or no carishness, which makes it harder for the over blown housing market to rebound. In fact, I know a couple whose home equity has vanished and are just walking away from the loan. For them, it is not that they can not afford to pay it, they can, they are just choosing NOT TO PAY IT because there is no monetary value in the home. This is another paradox going on out here.

During the great housing boom, homeowners nationwide borrowed a trillion dollars from banks, using the soaring value of their houses as security. Now the money has been spent and struggling borrowers are unable or unwilling to pay it back.

The delinquency rate on home equity loans is higher than all other types of consumer loans, including auto loans, boat loans, personal loans and even bank cards like Visa and MasterCard, according to the American Bankers Association.

Lenders say they are trying to recover some of that money but their success has been limited, in part because so many borrowers threaten bankruptcy and the collateral in the homes backing the loans has often disappeared.

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